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20121227
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Search Results 0 to 49 of about 92 (some duplicates have been removed)
FOX Business
Dec 26, 2012 11:00pm EST
. now time for your h comments. writing into their hope barack obama gets all the taxes he wants. i'll bthe first to say i toldd you so when the consequence happens.n t people learn the hard way.n obama never negotiate, he just demands something of complaints. when he doesn't get what he wants. he is far more mature than that, don't you think? we will keep thinking about that. thank you for your comments. we love hearing from you. we love hearing from you. >>> a massive winter storm wreaks havoc bringing blinding snow and devastang tornadoes. at least six are dead, over a thousand flights canceled nationwide stranding holiday travelers and worries things could get worse. welcome, i'm eric bolling in for neil cavuto and this is your world and we're tracking a deadly winter storm as it makes its way towards the east coast. in indiana, heavy snow stranding dozens of vehicles asolkseal with blizzard. a foot in bloming to know. across the south and southst 34 twisters leveled homes. in mississippi for than 25 people injured and 70 homes damaged. that number expected to rise. the storm knock
FOX News
Dec 26, 2012 9:00pm PST
split within the party how to approach this. obama got to go on vacation in hawaii. >> eric: taxes revert to the bush tax cut expire and president obama says republicans look at this. tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ce
FOX News
Dec 26, 2012 11:00pm PST
approach this. obama got to go on vacation in hawaii. >> eric: taxes revert to the bush tax cut expire and president obama says republicans look at this. tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ceiling they can create havoc. go ah
FOX News
Dec 27, 2012 2:00pm PST
on sunday. we can go off the cliff. pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the constitution, you cannot start a bill on taxes in the senate. has to come from the house. there is a 48-hour limit because you have to have the house of representatives look at it. i think the deal is cut. they will get legislation and vote on it late monday night. >> andrea: do you think a deal is cut? i talk to people and they say no deal. >> eric: there is no deal. they are saying no deal. president obama coming back to d.c. to fix what he broke in the first place. two solid years to deal with it. this is a gimmick, the flying back from hawaii to do this. nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get i
FOX News
Dec 27, 2012 3:00am PST
obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come forward with entitlement cuts that were enough to actually counteract some of those tax increases. could we be seeing the exact same thing today? >> well, yes. for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather than declined. and cbo has gotten it wrong every time over 50 years. and so whether you're deal -- what you're doing with obama is not just the expiration of the bush tax cuts, but obama tax goes into effect as well. the cap gains rate
MSNBC
Dec 27, 2012 1:00am PST
. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than simpson bowles, and less than a quarter of what is in -- simply going over the fiscal cliff. i think the tax increases are too little. they are what they are. and it's something to remember as we reach the edge and you hear a lot of complaints about the tax side of obama's offer. what he's asking for in terms of tax increases is not that radical, it's way less than if we don't reach a deal. contrary to what you may have heard, republicans want to raise taxes too. shocker, right? >> the superficial take on this, the argument between democrats and republicans is between democrats who love taxes, just want to tax everything. and republicans who totally grover norquist taxes, they hate them, that is not true. to a degree that kind of disturbs me, actually, the two parties mostly agree on keeping the bush tax cuts. up to $250,000 in income, which is a lot of income. republicans and democrats want to keep all
FOX Business
Dec 26, 2012 9:00pm EST
the tax increases to pay for obamacare were convenient postponed until after obama got himself safely reelected. they begin to hit january 1 of this coming year. they are unpleasant. gerri: absolutely unpleasant. it is a disincentive to invest into work. i don't know what people are going to do down the road. now it seems that people are saying it's up to the senate. it in the senate ballpark now to do something and to get some kind of bill. will they do anything at all? >> all the focus has been on president obama and the house of representatives. the leader, speaker boehner. some of us went to public school, but i still learned that there is a senate involved in all of this. [laughter] for the last three years no one has been talking by the united states senate. gerri: it's like they're under some witness protection program. they don't do a budget. they don't write a budget, they don't vote on the budget. the republins took them into putting obama's budget out and then they voted against it. they haven't put together a budget because they cannot reelect the democrat majority
CNN
Dec 27, 2012 4:00am PST
fiscal cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the president and top-level republicans. sources from both parties are telling us they are watching the senate, especially the democratic leadership in the senate. we also know yesterday house republicans came out with a statement saying that he will act only after the u.s. senate acts. we're not sure what the senate will do, as you say, we're expecting that smaller deal. what exactly will they vote o
CNBC
Dec 27, 2012 5:00pm EST
each party to go over? because then obama gets the tax increase that he wanted, right? the republicans aren't seen by their constituency of giving into the tax increase and then they start from there, anew, and you can bring it down to the middle class tax cut. so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal cliff. in other words, the recession their forces in the cliff, so, you picture two, like a sea change. the relief rally where it's going to happen, when we get a deal. then you have the recession their forces of the cliff right after that, so, you can see those two forces. i've been looking -- >> stocks can trade up during a recession. not when you're going into it. as you see going out of it. >> but it's still $130 billion of new taxes that are hitting the economy. maybe 150. i'm looking at two-month vices future versus the eight-month and i've been tracking it. track th
MSNBC
Dec 27, 2012 3:00pm PST
with the fact that president obama was reelected to raise taxes on the top 2% and speaker boehner and the republicans can't get their hands around their caucus, then the blame is on them. >> jarret, what do you think about all of this? you deal with the policy. you deal with the numbers. there has been some offers from the president, even to the chagrin of hi base. how do you make where we are? >> well, listening to the three of you and your introduction, i'm just struck a real low point in american politics over a period when there's been pretty good kovcompetition for the low of the low points. i'm also really kind of moved by the really political malpractice going on. we have an economic recovery on going. >> by the way, you don't really hear people talking about the unemployment rate. you're working to build on the momentum of this recovery. help them prove it so american households can get ahead on their own. through working hard. not through any tax breaks or anything like that. but through getting back to work and getting their paychecks back up. that's what they want to do
FOX News
Dec 26, 2012 6:00pm PST
obama got to go on vacation in hawaii. lucky him. >> and if the bush tax cuts expire and president obama says, hey, republicans, look at this, tax cuts for everyone making under 250, can republicans say no to a tax cut in 2015? >> it will be tough but not tougher than the pr battles he's fighting right now. i think he wants that scenario. i think obama thinks going off the click is a win for him. he can say i am bringing in revenue, i am lowering the deficit. and he can still blame the gop when their tacks go up. i don't think the grass pollen had the ball in this fight. i don't think they gave it up, i don't think they ever had it. it's tough for them to win against a white house like this and a white house press core that's not going to report anything negative against the president. >> there's a ball and the ball is the debt ceiling. all these things, i will get to craig, but have to go through the house. the money negotiations have to go through the house. if the house says no on raising the debt ceiling, they can create a lot of havoc. go ahead, greg. >> you know what? i don't
MSNBC
Dec 26, 2012 6:00pm PST
austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than simpson bowles, and less than a quarter of what is in -- simply going over the fiscal cliff. i think the tax increases are too little. they are what they are. and it's something to remember as we reach the edge and you hear a lot of complaints about the tax side of obama's offer. what he's asking for in terms of tax increases is not that radical, it's way less than if we don't reach a deal. contrary to what you may have heard, republicans want to raise taxes too. shocker, right? >> the superficial take on this, the argument between democrats and republi
MSNBC
Dec 27, 2012 8:00am PST
blocking that every obama has tried to do. it's really over a tax increase, and for what? it's really to stop primary challenges. that's what this is all about. i mean, it's really bringing the country to a standstill for their own political short term. >> "new york times" is talking about the urgency issue in all of this, and lacking urgency that we have witnessed. they say, yeah, with days left before the fiscal punch lands, both sides are exhibiting little sense of urgency. rather than to foster progress. perry is that the biggest thing, the primaries moving out of this and how everything looks back? >> i think there are two things going on. the first is democrats generally feel they won a man dade. they're not backing down -- the second thing is the primary issue. you have members of congress say last week there was a proposal to raise taxes, and a lot of republicans said i can't vote for that, a million only tax increase. they were worried about primaries. that's driving this in a very strong way. >>> there are people in washington, d.c. that will tell us this is how it al
FOX
Dec 27, 2012 4:00am PST
filings and tax refunds until march of 2013. president obama and members of congress are set to return for one day more of talks to avert spending cuts at the same time tax cuts expire. one alternative being floated - congress may let income taxes go up on everyone one tick past the stroke of midnight, then quickly vote to decrease tax rates for most americans back to 2012 levels. meanwhile, starbucks ceo howard schultz wants his employees to send a message and scrall, "come together," on cups for drink orders in the d.c. area. it's the first time employees have been asked to write anything other than customers' names on cups. former members of a regulatory agency are walking the well worn path from washington to wall street. since june, 9 members of the commodity futures trading commission have taken jobs at financial firms including jpmorgan chase and japanese investment bank nomura, according to the wall street journal. members of the cftc have been making the transition to help firms intepret changes under the dodd- frank reforms passed in 2010. critics of this revolving doo
LINKTV
Dec 27, 2012 5:30am PST
bronchitis' more than a month. president obama has cut short his christmas holiday and is on his way back to washington for the fiscal cliff talks. without a deal, budget cuts and tax rises will automatically start on january 1. a senior congressional reporter with the american news service "politico," says while he is doubtful they will strike a deal before next year, obama and democrats have the upper hand. >> they know that the polls are on their side, that a majority of americans would blame the republicans for the failure, and they know that -- they say president obama was just reelected on a mandate to raise taxes on the stockton% of income earners and the republican party is dead set against tax increases. -- on the top 2% of incoming earners. he wants to raise taxes on folks making more than a million dollars, but that was not enough for democrats and that was too much for lot of republicans. the republicans in the house are the ones who endangered the speaker's efforts to cut a compromise deal. the democrats know that they are the ones that have the upper hand in the fight and if
CNN
Dec 27, 2012 1:00am PST
for the update from syracuse. a lot more happening tonight. late news on avoiding the tax hikes and budget cuts that could sink the economy. president obama is rushing back to washington. the question is what kind of reception will he get from the lawmakers he has been negotiating with. dana bash is doing some digging, so does david gergen and the rest of our political insiders. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: credit monitoring is no
PBS
Dec 27, 2012 3:00pm PST
obama-- who's the only man that can stop a massive tax increase on january 1-- wants to do that, there's nothing house republicans can do to stop it. >> warner: with but explain why they were -- i mean, was it just that any deal that raised taxes period -- no compromise was worth that. >> it's hard to compromise when there's not two sets of ideas on the table. the senate democrats have never passed a budget resolution so how do you split the difference? what we'd like the see, the only rational solution at this end of the game is do extend the current rates for another year like was done in 2010 and let's go through regular order. let's actually write a tax bill out of the ways and means committee. let's have the senate democrats debate that. let's go through the normal budget process, pass a budget resolution by april 15 because the only way you'll get to the real issues which are tax reform and real entitlement reform, that has to be done through regular order. it's not going to be done in a back room at the end of this year. >> warner: that's what was said last december when
NBC
Dec 27, 2012 6:00pm EST
hopes are fading. and some observers say the deal is more likely after the new year after the tax cuts expire. >> then they will be cutting taxes instead of voting to raise taxes. it is a small distinction, but an important one for some republicans. >> president obama spoke to congressional leaders before he left hawaii by phone yesterday. senator mcconnell says he would be happy to look for to any proposal from the president. >> economists have warned that failure to address the fiscal cliff could send our country back into recession. maryland live! casino now open 24-7. before they closed at 2:00 a.m. and 4:00 a.m. on friday and saturday. but this morning the anne arundel location , that stores for the very last time. >> they unlocked at 8:00 and there was a waiting line to get in. this is all early buzz for the 24-hour operation. before now, the casino had to close its doors, but not any more. and adult beverages here are now sold around-the-clock. >> 24 hours a day -- all day long, all night long, all year long. we are pretty excited about that. >> i think it is great. it will brin
FOX Business
Dec 27, 2012 6:00pm EST
have shs evidence behind closed doors and with plan b. there willing to raise tax rates. this can be done, but whether or not both sides want to get it done right now. gerri: there was an interesting story breaking down the original negotiations that broke down and obama said to have told john boehner you get nothing, i get that for free. in response to put up 800 million in tax revenue changing his entire mind and obama said basically i don't have to respond to this, i will just take it. >> president obama is governing as a negative way with an iron fist. he wants them to respect his perceived election mandate and friendly john boehner was acting in good faith because by allowing tax rate go up on certain segments of the population was compromising principles in hopes of something in return and the president offered nothing in return. gerri: there is a big storm, hundreds of flights have been canceled. it is very possible not everybody will be able to be there. with this disrupts the situation yet again? >> it could. one of my favorite movies is planes, trains and automobiles. why t
CBS
Dec 27, 2012 12:00pm PST
: president obama and the senate cut short their holiday vacations to work out a last-minute deal to avoid the "fiscal cliff." they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let
KOFY
Dec 26, 2012 9:00pm PST
ongoing effort to avoid the fiscal cliff. president obama is about to end his family vacation in hawaii and will arrive in washington early tomorrow to deal with the tax increases and spending cuts that are due to take effect next week. no official fiscal cliff negotiations between republicans and democrats have been scheduled. not a great deal of progress. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficult to do any type of tax planning and advising because nobody really knows exactly what is going to happen. >> much of the uncertainty centers around whether the united states is about to fall off that a fiscal cliff. if that happens, that would mean the end of the temporary payroll tax cuts. even if that doesn't happen, most believe t
CNBC
Dec 27, 2012 1:00pm EST
because of surcharges on medicare and a payroll tax surcharge because of obama care, am i right on that? >> you're right. if you look at it, incomes are really going to go back to where they were during the meltdown. the american economy will not have moved forward for many households. >> and the payroll tax holiday will end automatically. an immediate 2% cut to disposable take home pay. thank you, michelle? >> you say sequester, i say sequester. let's call it all off. >> the dow is trying to hold onto the 13,000 level. let's see if it can hold by 113 points. 13.79 as it grows increasingly clear that they may not, probably cannot get it done. hamilt hampton pearson is here. >> we're down to, if you will, coffee cup politics. two simple words, rise above, on coffee cups and on cups of coffee at all 120 starbucks locations here in the washington area urging lawmakers and the white house to do something with these final days to get some sort of deal. about 500 cups of coffee on what is arguably a slow day just to get that message out, and what we're really finding in talking and spending a
FOX
Dec 27, 2012 4:30am PST
of rain here. >>> president barack obama arrives back in washington for high level cliff's. president barack obama cut short his christmas trip in hopes of negotiating a deal with republicans and the deal was to make tax cuts for the wealthy and raising taxes among the rich. the treasury announced they will resore to using a program to help sustain their money. they will look to borrowing where the government defaults on their debt. >>> former president bush remains alert talking with medical staff. former president bush was in the hospital since last monday for complications related to bronchitis. >> we are hoping the medicine and treatments can help him turn things around. >> the former president has a high fever and is now on a liquid only diet. his former florida governor and son have all been frequent visitors. >>> they came after 14 million vehicles came. they say the value of the cars fell sharply after the recalls. a judge must still approve the settlement. >>> how are things looking tara >> so far so good, let's take a live look at the east shore freeway and traffi
LINKTV
Dec 26, 2012 7:00pm PST
cliff. president obama has cut short his vacation to help reduce the national debt. budget cuts and tax rises will start on january 1. the white house has called on republicans not to block a resolution in congress. severe weather has caused hundreds of holiday flight delays with its sweeping storm system moving east after tornadoes struck for states on christmas day. at least six people have died. >> dallas, texas, where snow is a rarity came as a christmas surprise. it turned white and the motorists struggled with slippery roads. 21 cars and fractured trailers, and eastern ohio, kentucky, and indiana. along with wind gusts of 50 kilometers an hour. the unusual winter phenomenon hit for seven states, 34 tornadoes. this one touchdown in mobile, alabama. it overturned cars and blew out windows. >> it is like this crazy wind, just the whole building is shaking. >> a caused no fatalities, but a thunderstorm fell this tree, killing a driver of this truck. and if no border was buried by an avalanche. the storm system shifts to the eastern seaboard. >> writing levels of the city in the red se
ABC
Dec 27, 2012 5:00am EST
dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you want. >> maryland live casino is getting ready to open its doors and once that happens they're going to remain open 24/7. >> abc2 news linda so is there this morning and linda the apartment was empty. casino is empty but it's not going to stay that way for long. >> reporter: no, just a few hours at 8:00 to be exact they'll be opening the doors for good. the lights are so pretty. they're getting ready for a big day today. when the doors open at 8:00 this morning they will stay open 24 hours a day, 7 days a week, 365 days a
CNN
Dec 26, 2012 7:00pm PST
update from syracuse. a lot more happening tonight. late news on avoiding the tax hikes and budget cuts that could sink the economy. president obama is rushing back to washington. the question is what kind of reception will he get from the lawmakers he has been negotiating with. >> we have our political insiders coming up. santho, ho, ho!anta! santa! want to see some magic? watch this! merry chr... (crash) ow! i landed on my keys. did you get that? oh yeah. that was amazing. here you go. that was a fun trick! see? santa's okay. walk it off santa. share videos instantly with s beam. on the galaxy siii and note ii. for a limited time get two flip covers for the price of one. exclusively at verizon. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. [ female announcer ] live the regular life. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it
CNN
Dec 27, 2012 2:00am PST
version of the fiscal cliff package that president obama laid out last week. it moved the tax hike needle to $400,000 per household. no word yet on when the house might come back with time ticking away. democrats are hoping that a scaled back plan could get through the house, senate and white house before that big ball drops on 2013. that would be sometime on december 30th or even on new years eve. we want to bring in jonathan allen. he's a senior national correspondent for politico. the top headline on politico is fiscal cliff deal increasingly unlikely. i think a lot of people are feeling that pessimism right now. what are you hearing? >> well, i think what you've got here, alena, is a nash equilibrium to borrow from economic theory and game theory. each of the players believe they are pursuing their optimal strategies given the strategies of the other players and there's no reason to change it. i think as observers of this, the american public, you can say there's a real reason to change it. in terms of the politicians, i think they're pursuing their best strategy right now and
CNN
Dec 26, 2012 10:00pm PST
update from syracuse. >>> a lot more happening tonight including late news on avoiding tax hikes and budget cuts that could sink the economy. president obama is rushing back to washington. the question is what kind of reception he will get with the lawmakers he's been negotiating with? questions? anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. share brotherly love. share one up's. mom ? mom ? the share everything plan. lets your family share a pool of data across 10 devices with unlimited talk and text. get a spectrum 2 by lg for $49.99 and you see the woman you fell in love with. she's everything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat
CNN
Dec 27, 2012 11:00am PST
great depression. president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. they are expensive if they are extended by 2020, they will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy and stay in place for those earning less than $250,000 a year. >> we need to stop the job killing tax hikes and stop cutting spending now. >> republicans refuse to play ball. they say no higher rates on the rich and no tax hikes on anyone. based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but philosophy's main spokesman is this man. grove norquist, whose pledge signed by almost all republicans in congress forbid them from raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nations's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy the
MSNBC
Dec 27, 2012 12:00pm PST
unemployment benefits and payroll tax and up for discussion, as well. i think in obama's proposal, he wasn't moving as much on the dividend tax as a compromise but, you know, that never settled at the end of the day. >> all right. enjoy that 4.2% payroll tax rate while it lasts. >> absolutely. >>> up next, freedom of speech with the right to bear arms. that's in the spin cycle. >>> amber and marcy and paul started north carolina based footsteps clothing which had a booming christmas themed pajama line. not wanting to be just a seasonal business, they added other holidays and eventually expanded to products that celebrate family life. stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car replacement. if your car is totaled, we give you the money to buy one a model year newer. call... and ask one of our insurance experts about it today. hello?! we believe our customers do their best out there in the world, and we do everything we can to be t
FOX News
Dec 27, 2012 8:00am PST
stop the tax hikes. what happened since then, senate democrats have done nothing with it. i think president obama, senator reid, they have to bear some responsibility they haven't moved any of this house-passed legislation. it is time for president obama and senator reid to act. >> one thing an amos piece. senate passed a bill which protected folks making 250 and less and small businesses from a tax increase. that is collecting dust in the house right now. jon: well, doug, let me throw it back at you, this is the same senate that hasn't passed a budget in three years, even the president's budget got no votes in the senate the last time around. how can they lay all of the blame at the feet of the house of representatives? >> i would say, look, i think everyone shares in the blame what is going on here and but i do think that what you're seeing on the house is this, a almost a reluctance to take yes for an answer the president has put forward a plan which results in $2 trillion in total spending cuts. protecting tax cuts for the middle class and small businesses. 98% of individual,
FOX News
Dec 27, 2012 12:00pm PST
five days until major spending cuts kick in and taxes go up on everybody, the white house says president obama made separate phone calls to the senate leaders, harry reid, and john boehner. that was last night before the president took air force one from hawaii to washington. molly is live for us at the white house. update us on the next move from the obama administration. >> despite the phone calls that the president made before he left hawaii, he spoke to top democrats and republicans and no negotiation meetings have been set. at least not formally or public limit there's nothing set yet between all the sides to discuss this. the president's back in washington after he cut short vacation to get back to the white house for possible last minute fiscal cliff talks leaving his wife and daughters in hawaii. the vice president is scheduled to be here today for meetings. don't forget the obama administration and congress have the debt ceiling hanging over them. the u.s. set to hit the borrowing limit of over $16 trillion by the end of the year. there's a lot going on at 2012 winds d
ABC
Dec 27, 2012 2:35am EST
. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cuts for working americans. >> report
MSNBC
Dec 26, 2012 11:00pm PST
think obama was saying to boehner look, i don't need to give that. >> $700 billion just for getting the middle class tax through. just for that. yeah. >> this is what he told his members in the congress. because of stories like this, that can paint the picture to the voters that obama's not playing ball. >> trying to explain this to somebody from pluto. say in australia now. saying when congress wrote the cliff, defined it, spend cuts, increases on income, tax increase on state. they wrote it up as this horrible thing that nobody would want to face. either side, right? they designed it that way. now they're walking right over that cliff. over niagra falls. explain. >> it's like congress is on pluto and we're all on earth. they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make
MSNBC
Dec 26, 2012 7:00pm PST
, they save americans from a tax hike. >> the gallup poll shows 54% approve of how president obama is handling the vote, 26% approve of how speaker boehner is handling negotiations. 45% democratic leaders approve and 26% gop leaders approve of how they're handling the situation. chief washington correspondent and political writer for the "new york times," and robert reich. he's also the author of "beyond outrage." john, you can tell us all the maneuverings and meetings that have gone on all day between the house administration and their staff. just catch us up on everything, john, all the big news that happened today. >> right here, lawrence. nothing. nothing happened. but i have to say, though, i'm still with bill crystal and that 50% tooth fairy crowd in thinking the republican leadership in the senate and then, as a result of that, in the house are going to decide that they've already taken enough punishment. the punishment will get worse after january 1st and that ultimately they will accept, at least temporarily, perhaps not as a permanent solution, but at least temporarily, the
CNN
Dec 26, 2012 5:00pm PST
obama and the democrats campaigned on, was this fall back plan or the small piece of tax cuts being extended for 98% of american families and small businesses. there is a big in the senate sitting there now that the fous could vote on. the house could call a vote on it right now and 98% of america's family could see protection of their tax cuts extended. so i think that is a strong position for the democrats. the majority of american people agree that the wealthy can afford to pay people more. >> you believe president and leaders prefer going over the cliff, but republicans do have the option of locking in tax cuts for most americans right now. >> as you said, the president can increase taxes and point the coin fer at the republicans. but we need to have spending cuts. this is not an issue that is going to be resolved with taxes right away. the house has issued legislation that would extend the tax cuts and erase the military cuts. but something else that came up, secretary geithner issued a letter today warning the country that we are going to hit the debt ceiling on new year's eve
ABC
Dec 26, 2012 5:00pm PST
taxes for all. will there be a deal? also tonight, an abc news exclusive. barbara walters at the white house. asking michelle obama if she'll run for office next. and a personal question, too. >> how do you keep the fire going? >> hmm. that's a good question. >>> made in america.
KRON
Dec 26, 2012 8:00pm PST
falling off the so-called "fiscal cliff" -- a series of tax hikes and spending cuts set to take effect in six days. and there still seems to be no signs of compromise between congress president obama is cutting his holiday vacation in hawaii short. and will return to washington tomorrow. house and senate members are expected to reconvene tomorrow as well. without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a maximum sentence of 20 years in prison. no court dates have been set. >> right now parts of the country are dealing with the a
KOFY
Dec 27, 2012 11:30am PST
camera what led >>> president obama is back in washington where the weather is just as frigid as the political climate inside. fiscal cliff talks appear to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for
ABC
Dec 27, 2012 1:40am PST
the fiscal cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will automatically take effect. >> and the clock is ticking. >>> of course, when we look back at this year, president obama's re-election was one of the biggest political stories of the year. all others, you could say, they pealed in comparison. >> with the first of our year-enders, here's abc's karen travers. >> reporter: to win a second term, president obama had to overcome a well funded opponent, a struggling economy, and voters' doubts that he had the right agenda to turn the nation around. [ chanting ] >> all: four more years! >> reporter: and after a roller coaster season, he got them. mitt romney may have started off at the frontrunner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against barack obama. >> the odds are very high i'm going to be the nominee. >> reporter: and overcome some self-inflicted wounds. >> i like being able to fire people who provide serv
CBS
Dec 27, 2012 7:00am PST
without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration
ABC
Dec 26, 2012 11:00pm EST
washington. president obama and others are traveling back to get in session. if republicans and democrats can't agree, the session won't meet. every american will be hit with higher taxes new year's day because of the fiscal cliff. a teacher with $43,000 a year will get a tax hike of more than $3,000 a year. a professional athlete would see his taxes go up more than 2.4 million a year. unemployment benefits for some 2 million people would expire. the nation may fall back into a recession. >>> even star bucks is getting into the fight on the fiscal cliff. their ceo wants workers to write come together on the coffee cups they serve thursday and friday. it's the company's way of telling the politicians to find common grounds. >> if people would get in the room and leave their ego behind, but be so sensitive to the'ds of the american people, we would have an agreement. >> a suggestion from the ceo. baristas won't be forced to write anything on the cup. >>> regardless of the fiscal cliff, the new year will bring new laws. same sex marriage will be allowed in maryland. that is not not the only
FOX
Dec 26, 2012 6:00pm PST
. >>> president obama is expected to head back to washington from hawaii tonight. today, house speaker john boehner said it's up to the senate to pass legislation to avoid the steep cuts and tax hikes that are set to take effect january 2nd. some observers say it looks likely the u.s. will go over that cliff allowing lawmakers then to vote to lower taxes after they first go up. >> to make them look better? to appease voters? is that the reason? great. . >> meanwhile, another showdown is looming. the government will hit its federal debt limit on new year's eve and could default unless congress passes legislation to permit more borrowing. >>> the passage of proposition 30 gave governor brown the extra money he wanted for california schools. now he's working on a proposal to differencevy up the funds. eats work -- divvy up the funds. >> he wants to return more accountability, authority and decision-making down to local school districts because teachers, administrators and parents have a better sense of what their local priority are than people here in sacramento do. >> the governor's prop
MSNBC
Dec 27, 2012 9:00am PST
the last three years of the obama administration, on the budget, on deficit, on tax cuts years ago. they came together before christmas. it's hard to see how this works out at this point, to tell you the truth. there is a conference call at 2:30 among house republicans trying to decide what to do. we expect the leadership to let the rank and file know what their plans are. the speaker is not in washington. we understand he is in ohio of his home state. the president has landed here back at the white house in washington. it's unclear exactly where they go from here. essentially what john boehner is saying, you go first, harry reid. harry reid is trying to jam mitch mcconnell into allowing this vote to go forward without the 60-vote threshold, something that's necessary for virtually every vote here in the senate and mitch mcconnell says it's time for president obama to lead. the threshold question is, can something pass the house of representatives? can john boehner put something on the floor that needs the majority of democrat support that will not get republican support and none t
CNBC
Dec 27, 2012 6:00am EST
question is how do we get past this impasse? i think president obama's made some concessions already on the revenue number from $1.6 trillion to $1.2 trillion. on the threshold for taxes from $250,000 to $400,000. and indicated some flexibility on corporate taxes and other issues and c.o.l.a.s for medicare. so i think that there's some room here if we can just get the gop to make the movement on their side. they can't even get boehner to get agreement with plan "b" over there. i don't know what's going to happen. >> you wouldn't have done anything with plan "b." susan i was just talking to john kanas about the republicans just -- they can't win for losing here, they're like boxed into a corner. they're going to get blamed for something that maybe the other side was willing to do all along, and the republicans are going to be the one getting blamed and i don't think people are even going to realize that they're being had. >> they certainly fumbled the ball. and the fact is is that they did have an opportunity to really look like they were going to become the party of yes. and they at
KRON
Dec 27, 2012 7:00am PST
republicans. present obama returns to watching today after cutting as holiday vacation in hawaii short. house and senate members are expected to reconvene today as well. without a budget agreement automatic tax increases for every one and d spending has will be triggered in the next year. the main dispute continues to be over taxes. >> as the nation nears the fiscal cliff in hawaii is lieutenant governor is said to be sworn in to the senate today replacing the late senator daniel inouye. for a year old schatz is a former white democratic party chairman and lawmaker. he was chosen over u.s. rep colleen had help boost the home was suggested shortly before it and always death. >> not allowing the vast majority of the house of representatives to get what they want. if that to 50 would be brought up it would pass over. on any given day for the last five or six months since the giant banner could have passed tax cuts and it would pass. he is doing, he has made the decision that he does not won a vote on it. because if he voted on it it would pass. i have sat here mr. president is not too late for t
MSNBC
Dec 27, 2012 1:00pm PST
. the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes. he won the election, he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but, again i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they're going to do because he backed off of even his own proposal. mr. president, the house, we hear this so often, is controlled by the republicans, and we acknowledge that. i would be most happy to move forward on something that senator mcconnell said they wouldn't filibuster over here that they would support and boehner would support it if it were reasonable, but right now we haven't heard anything. i don't know, and it's none of my business, i guess, although i am very curious, if the speaker and the majority leader, the republican leader over here are even talking. what's going on here? mr. presi
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